Farther Finance Advisors LLC Increases Stake in Chevron Co. (NYSE:CVX)

Farther Finance Advisors LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 25.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,290 shares of the oil and gas company's stock after buying an additional 18,538 shares during the period. Farther Finance Advisors LLC's holdings in Chevron were worth $15,215,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the stock. Capital & Planning LLC increased its position in shares of Chevron by 15.2% during the fourth quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company's stock worth $243,000 after acquiring an additional 222 shares during the period. Eagle Capital Management LLC increased its stake in Chevron by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after purchasing an additional 242 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Chevron during the 4th quarter worth about $8,947,000. Moloney Securities Asset Management LLC lifted its stake in Chevron by 14.0% during the 4th quarter. Moloney Securities Asset Management LLC now owns 25,751 shares of the oil and gas company's stock valued at $3,730,000 after acquiring an additional 3,168 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of Chevron by 1.3% in the 4th quarter. Empowered Funds LLC now owns 663,463 shares of the oil and gas company's stock valued at $96,096,000 after buying an additional 8,762 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 2.4%

Shares of NYSE CVX opened at $140.21 on Monday. The stock has a market cap of $244.86 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company's fifty day moving average is $138.98 and its 200-day moving average is $149.65.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the prior year, the business earned $2.93 EPS. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. Equities research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.88%. Chevron's dividend payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Piper Sandler reduced their price objective on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. UBS Group cut their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and cut their price objective for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Wells Fargo & Company dropped their target price on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of "Hold" and an average target price of $160.24.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.

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